Yet another S&P 500 Top Formation Prediction - Post on Lumbridgecity
Yet another S&P 500 Top Formation Prediction
Yet another S&P 500 Top Formation Prediction – October 7 2016
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You can see here that I’m short the S & P 500 – If I zoom in to the live view – you can see this is what is going on at this very moment. We have a small 1-2-3 bottom formation in the intra-day prices in the past couple hours.
The one day view, and then zoom out to the weekly, we can see a stronger triangle pattern that is converging to a point. And if I zoom out to the one month view, we can see that this triangle extends out – and it seems to have a ‘losing-momentum’ feel to it overall since the early September spike down.
If we go to the one year view – we can see how interesting this chart pattern is here – absolutely fascinating, actually. If we slowly zoom out and out and look at a ten to fifteen year view, we start to get a perspective of where we are in the overall momentum of the market.
I don’t really know if the market will go higher or lower from here – but, to me, it seems like it is losing momentum – at the same time it is making a 1-2-3 top formation… and that is my trading signal.
And so – that is why I’m short the S&P 500, and I’ve been adding on and adding on to my position as it has been proving me correct.
Republished with permission from http://www.lumbridgecity.com/yet-another-sp-500-top-formation-prediction-october-7-2016/